Global monthly fossil fuel price indices 2022-2024, by fuel
Crude oil prices indices are the highest among all fossil fuel energy prices, although notably less volatile in the last 24-month period. In January 2024, the global crude oil price index stood at 187 index points. This compared to 173.56 for coal and 153.39 index points for natural gas. Energy prices soared in 2022. The fast economic recovery after the coronavirus pandemic led to supply disruptions that impacted energy prices. Furthermore, Russia's invasion of Ukraine in February 2022 exacerbated the situation.